Research on the Economic Benefit of Energy Storage System Works with Photovoltaic System Considering the Cost of Electricity

2019 ◽  
Author(s):  
GUO Chunlin ◽  
YU Qinbo ◽  
SONG Xiangzheng ◽  
YANG Jingjing
Keyword(s):  
Energy Storage ◽  
Economic Benefit ◽  
Storage System ◽  
Energy Storage System ◽  
Photovoltaic System ◽  
Cost Of Electricity ◽  
The Cost

scholarly journals Return of Interest Planning for Photovoltaics Connected with Energy Storage System by Considering Maximum Power Demand

2020 ◽  
Vol 10 (3) ◽  
pp. 786
Author(s):  
Sung-Soo Kim ◽  
Wonbin Lee ◽  
Byeong Gwan Bhang ◽  
Jin Ho Choi ◽  
Sang Hun Lee ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Economic Evaluation ◽  
Energy Storage ◽  
Storage System ◽  
Energy Storage System ◽  
Maximum Power ◽  
Photovoltaic System ◽  
Medium Size ◽  
Power Demand ◽  
The Cost

In this study, a general building of medium size with an Energy Storage Systems (ESS)-connected Photovoltaic (PV) system (energy storage system that is connected to a photovoltaic system) was chosen to develop a tool for a better economic evaluation of its installation and use. The newly obtained results, from the revised economic evaluation algorithm that was proposed in this study, showed the effective return of investment period (ROI) would be 8.62 to 12.77 years. The ratio of maximum power demand to contract demand and the falling cost of PVs and ESS was the factors that could affect the ROI. While using the cost scenario of PVs and ESS from 2019 to 2024, as estimated by the experts, the ROI was significantly improved. The ROI was estimated to be between 4.26 to 8.56 years by the year 2024 when the cost scenario was considered. However, this result is obtained by controlling the ratio of maximum power demand to contract demand. Continued favorable government policies concerning renewable energy would be crucial in expanding the supply and investment in renewable energy resources, until the required ROI is attained.

scholarly journals The cost-effectiveness of an energy storage system using hydrogen and underground gas storage

2019 ◽  
Vol 137 ◽  
pp. 01007 ◽  
Author(s):  
Sebastian Lepszy
Keyword(s):  
Cost Effectiveness ◽  
Energy Storage ◽  
Historical Data ◽  
Renewable Energy Sources ◽  
Storage System ◽  
Energy Storage System ◽  
Electricity Production ◽  
Energy Market ◽  
The Cost ◽  
Random Nature

Due to the random nature of the production, the use of renewable energy sources requires the use of technologies that allow adjustment of electricity production to demand. One of the ways that enable this task is the use of energy storage systems. The article focuses on the analysis of the cost-effectiveness of energy storage from the grid. In particular, the technology was evaluated using underground hydrogen storage generated in electrolysers. Economic analyzes use historical data from the Polish energy market. The obtained results illustrate, among other things, the proportions between the main technology modules selected optimally in technical and economic terms.

scholarly journals Coordinated Control of Interconnected Microgrid and Energy Storage System

2018 ◽  
Vol 8 (6) ◽  
pp. 4781
Author(s):  
Md. Asaduz-Zaman ◽  
Md. Habibur Rahaman ◽  
Md. Selim Reza ◽  
Md. Mafizul Islam
Keyword(s):  
Energy Storage ◽  
Storage System ◽  
Energy Storage System ◽  
Frequency Regulation ◽  
Spinning Reserve ◽  
Island Area ◽  
Load Demand ◽  
Loading Constraints ◽  
Power Frequency ◽  
The Cost

Several microgrids can be interconnected together to enhance the grid reliability and reduce the cost of supplying power to an island area where conventional power grid cannot be connected. Source and load demand do not properly balance always. Besides that, sometimes power and frequency fluctuation has occurred in MG at island mode. Need to design a special control for maintaining the state of charge (SoC) of energy storage system. This paper proposes a new power supply system for an island area that interconnects two microgrids with a single energy storage system (ESS). An algorithm has been proposed that control the microgrids energy storage system for spinning reserve and load power/frequency regulation purpose. The minimum loading constraints of diesel engine generator (DEG) is considered and the SOC of the ESS is properly maintained.

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